The Louisiana Democrat. [volume] (Alexandria, La.) 1845-1918, 1887-05-04
CHARTER
OF TIE
COMPRESS COMPLY
STATE OF LOUISIANA, !
PARISH OF RAPIDES.

RAP1DES COMPRESS COMFY
STATE OF LOUISIANA,
PARISH OF RAPIDEs.
DE 1T KNOWN THAT ON THIS THE
ID eighteenth day of April, Ammo Doni
nj eighteen hundred and eighty be.
fore me, George o. Watts, Clerk and ex.
otfieiO Notary Public, in and for the Par.
ish and State aforesaid, duly commission.
ed and qualified according to law, and in
the presence of the undersigned compe-
tent witnesses, personally came and ap-
peared Julius Levin, George w. Bolton,
Robert w. Bringhurst, Albert Pcttengill,
Noble l.. McGinnis and Louis V. Marye,
residents of this Parish and State, who
seycrally and jointly declared that avail
ing themselves of the provisions of the
laws OF the State Of Louisiana relative to
the organization of corporations, they
have formed aud do by these presents
form and organize themselves into a cor
poration and body polite in law for the
purposes and under the following stipula.
tons, agreements and articles to-wit:-
ARTICLE l. The name and title of this
corporation shall be "rhe Rapidcs Com
press Company" and by that name it
shall have succession and corporate exis-
tence for and during the term of ninety
nine years from date hereof, unless sooner
dissolved, in the manner hereinafter men.
toned. The legal donicil of this corpora
ton shall be the City Of Alexandria, in
the Parish Of Rapides, State of Louisiana.
1t shall have power and authority to pnr-
chase and convey both real and personal
property, and shall have a corporate seal,
such as may be agreed upon by the Board
of Directors.
ART. 2: The objects and purposes of this
corporation are hereby declared to be the
COMPRISING of cotton for domestic aud
foreign shipment, and the weighing and
handling of cotton.
ART. 3. The capital stock of this corpo-
ration is hereby fixed at thirty thousand
dollars, to be divided into shares of TWEEN
ty-five dollars each, ten per cent of which
shall he paid at the time the subscription
is made, and the balance to be paid in in.
stallments OF ten per cent at such times as
the Board or Directors shall determine -
provided, however, that thirty days no.
tice be published by one insertion in one
OF the city papers prior to the day of pay
ment; and should any stakeholder fail to
pay any lnstallMent rs the same may be
called for, tue Board OF Directors shall
have the right to declare his stock, to-
gether with all payments made thereon,
forfeited to and for the benefit of this cor
poration. The stock Of this corporation
may be increased to fifty thousand dollars
by a majority vote of the stockholders,
and this corporation may begin opera
tions when fifteen thousand dollars shall
have been subscribed
ART. 4. The corporate powers Of this
corporation shall be vested in Board of
six Directors, composed of the stockhOl-
ders OF this corporation to be elected an
nually, four OF whom shall form quo
rum, and their acts shall be valid corpo-
rate acts, and no stakeholder shall be-
come Director unless he holds in Ills owl
right four shares Of the capital stock
The first Board of Directors under this
charter shall be:-Julius Levin, George
W. Bolton, Robert W. Bringhurst, Albert
Pettengill, Noble L. McGinnis and Louis
V. Marye, and they shall elect from
among their number a President, and a
vice-President to act in the absence of the
President, and shall appoint such other
officers and employees as they may deem
proper to servo during their pleasure
The aforesaid Board shall continue to act
until the first annual election of Directors,
which shall take place on the first Mon
day i'll May, 1888. The present Board of
Directors shall at that time give notice in
one of the City papers Of said election by
two publications, and at the said election
of Directors each and every share of stock
shall 10 entitled to one vote, and every
stakeholder shall be entitled to vote in
person or by proxy, and all elections pro-
yided for by this charter shall be by bal
lot. Tbs said Board of Directors shall
make snch bylaws and rules and reghla-
tious as they may think proper, aud in
t event of any vacancy in the said
Board from death or otherwise, the Direc-
tors shall elect one of the stockholders to
fill the vacancy.
ART. 5. The President of this corpora
tion shall be the proper officer upon whom
citation shall be served, or in his absence,
upon the President.
ART 6. This corporation shall have the
power and authority to contract, sue and
be snea under its corporate name, and to
mortgage and hypothecate under its cor
porate name property both real aud per-
sonal, and shall have and enjoy all the
privileges incident to corporations of its
nature in this State.
ART. z. No steckholder shall DO held
liable for tie faults, obligations or con-
tracts Of this corporation for any greater
amount than the unpaid balance due to
the corporation OH his stock.
ART. 8. This corporation may be dis
solved by tw0-thirds vote of it's stock
holders IS represented by the capital
stock, and it shall than be liquidated by
three commissioners to be chosen from
the said stockholders at special election
for that purpose, and they shall hold Of
fee until the affairs Of said corporation
shall be liquidated.
JULIUS LEVIN,
N. L. MCGINNIS,
ALBERT pETTENGILL,
r. w. BRINGHURST,
l.. V. MARYE,
G. w. BOLTON.
B. TURNER, w,+rosa.a
/. c. MILLER, "i'n0s'0s.
(>~ Thus done, read and signed
\ &c, ~ OIL.